Michigan Laws 18.1293 – Definitions
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Terms Used In Michigan Laws 18.1293
- Contract: A legal written agreement that becomes binding when signed.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
As used in this section and section 294 to 297:
(a) “Committee” means the committee on the purchase of goods and services from community rehabilitation organizations created in section 295.
(b) “Community rehabilitation organization” means a nonprofit charitable organization or institution incorporated in this state that is operated for the purpose of carrying out a recognized program of employment and training services for people with disabilities.
(c) “Fair market price” means the price established by the committee for goods or services to be purchased from community rehabilitation organizations based upon 1 or more of the following:
(i) Available information from reliable market sources.
(ii) A market survey conducted by a person designated by the committee.
(iii) Previous contract prices adjusted for market conditions.
(iv) The range of bids from the most recent solicitation, including a determination of the median price, average price, and any market conditions that have changed since the most recent solicitation.
(v) Cost analysis.
(vi) Other methods as determined by the committee.